Wednesday, April 30, 2008
MIAMI - Housing prices in Miami are coming down quickly, a real estate broker said "I sit on the computer everyday waiting for a new listing. There isn't much coming up but a lot going down - lot of homes on the market are going down."The word "price reduction" is almost standard in every sign outside the yards, making it nearly impossible to judge what is a good deal, especially when you see how much prices are dropping.
At the peak of real estate market in the year 2004, home values rose on average $1,000 a week. So far this year the market is in a plunge and prices are dropping $1250 a week. A realtor blames the credit for the steady drop in price and banks now demand 20 to 30 percent down. He added "Unfortunately as much as the young people can afford the payments, which is a struggle, but more and more people can, it's hard for them to come up with the down payment"
At the peak of real estate market in the year 2004, home values rose on average $1,000 a week. So far this year the market is in a plunge and prices are dropping $1250 a week. A realtor blames the credit for the steady drop in price and banks now demand 20 to 30 percent down. He added "Unfortunately as much as the young people can afford the payments, which is a struggle, but more and more people can, it's hard for them to come up with the down payment"
posted by Webprofits
@ 5:43 AM
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1 Comments:
At April 30, 2008 12:38 PM,
Michael Ejercito said…
At least housing is more affordable.
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